Table 1

Proposed Debt Settlement

	FI Creditors	Non-FI Creditors	Total
	(RM'000)	(RM'000)	(RM'000)
Outstanding liabilities as at 30 June 2001	211,521	17,750	229,271
Settlement pursuant to the Proposed Debt Settlement :
- RCSLS	20,865	1,751	22,616
- RULS	2,768	232	3,000
- Newco Shares	18,452	1,548	20,000
- estimated realization from the disposal of assets transferred to SPV	59,107	4,960	64,067
	101,192	8,491	109,683
Liabilities to be waived	110,330	9,259	119,589
Total	211,521	17,750	229,271

Table 2

– Effects of the PRS on the issued and paid-up share capital of GEB and Newco

	-------------------------GEB----------------------		--------------------------Newco-------------------
	No. of ordinary shares of RM1.00 each '000	Share capital RM'000	No. of ordinary shares of RM1.00 each '000	Share capital RM'000
Existing	19,999	19,999	-*	-*
Proposed Capital Reconstruction	(17,999)	(17,999)	-	-
After the Proposed Capital Reconstruction	2,000	2,000	2,000	2,000
To be issued pursuant to:
Proposed Debt Settlement	-	-	20,000	20,000
Proposed Acquisition	-	-	130,000	130,000
Enlarged after the PRS	-	-	152,000	150,000
To be issued pursuant to the full conversion of the RCSLS #	-	-	22,615	22,615
Enlarged share capital	-	-	174,615	174,615

* comprising 2 ordinary shares of RM1.00 each
# based on an assumed conversion price of RM1.00





Table 3

– Proforma Effects of the PRS on the NTA of GEB and Newco

	----------------GEB---------------
		------------------------------------------------Newco------------------------------------------
	As at 31 December 2000* RM'000	(I) After the Proposed Capital Reconstruction RM'000	(II) After (I) and the Proposed Debt Settlement RM'000	(III) After (II) and the Proposed Disposal RM'000	(IV) After (III) and the Proposed Acquisition RM'000	After (IV) and full conversion of the RCSLS# RM'000
Share capital	19,999	2,000	22,000	22,000	152,000	174,615
Accumulated losses	(69,402)	(51,403)	68,186	25,879	23,879*	23,879
Shareholders' funds	(49,403)	(49,403)	90,186	47,879	175,879	198,494)
Less: Goodwill on consolidation	-	-	-	-	(67,463)	(67,463)
NTA/(Net liabilities)	49,403	(49,403)	90,186	47,879	108,416	131,031
No. of shares in issue ('000)	(19,999)	2,000	22,000	22,000	152,000	174,615
NTA per share (RM)	(2.47)	(24.7)	4.10	2.18	0.71	0.75

* After deducting restructuring expenses of RM2.0 million
# Based on an assumed conversion price of RM1.00





Table 4
Table 4 – Effects of the PRS on the Shareholding Structure of GEB and Newco

	---------GEB---------		------------Newco----------
	Before the PRS		After the PRS#
	No. of shares '000	%	No. of shares '000	%
Shareholders of GEB	19,999	100	2,000	1.2
Scheme Creditors	-	-	42,616	24.4
Newco subscribers' shares	-	-	-*	-*
Vendors of Mayford Group			130,000	74.4
	19,999	100	174,616	100.0

* Comprising 2 ordinary shares of RM1.00 each.
# Assuming full conversion of RCSLS at an assumed conversion price of RM1.00.

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